Goldman Sachs JUST U.S. Large Cap Equity ETF
ALTAR
Score™
4.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
28.2x P/Sales
ratio
2.8x
P/BV
ratio
3.9x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JUST tracks a tier-weighted index of US-listed large-cap stocks selected based on a survey-based assessment of business behavior.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Jun 07, 2018
Assets (mns) $172
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 445
Wgt avg mkt cap (mns) $468,626
Large cap (>$10bn) 97.0%
Mid cap ($2-10bn) 3.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.6 %
MICROSOFT CORP 5.5 %
AMAZON.COM INC 5.3 %
FACEBOOK 2.2 %
ALPHABET INC. CLASS A 1.8 %
ALPHABET INC. CLASS C 1.8 %
PROCTER & GAMBLE CO/THE 1.5 %
JPMORGAN CHASE & CO 1.5 %
VISA INC-CLASS A SHARES 1.5 %
JOHNSON & JOHNSON 1.5 %
Total 29.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
IRELAND 1.9 %
BRITAIN 1.0 %
BERMUDA 0.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
4.2% 11.4% -- -- 10.7%

Market Correlations
versus... Beta R-squared
S&P500 1.00 100%
MSCI EAFE 1.05 88%
MSCI Emg. Mkts. 0.76 68%

Technical Indicators
Recent close $52.83
30d moving avg. $50.64
Annualized volatility 19.7%
Short interest (ETF) 0.9%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.4%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $162,622

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Goldman Sachs JUST U.S. Large Cap Equity ETF ETF based on the alternatives' overlap in portfolio holdings with JUST. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JUST Expense: 20 bp ALTAR Score™: 4.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JUST
Ticker Fund
Name
Overlap1
vs JUST
(%)
Expense
ratio
(bp)
Savings
vs JUST
(bp)
ALTAR
Score™
(%)
ALTAR
vs JUST
(%)
ESGV Vanguard ESG U.S. Stock ETF 84.2 12 8 4.7 +0.1
PBP Invesco S&P 500 BuyWrite ETF 83.6 49 -29 4.7 +0.1
HSPX Global X S&P 500 Covered Call ETF 83.1 60 -40 4.6 +0.0
XYLG Global X S&P 500 Covered Call & Growth ETF 82.8 60 -40 4.6 +0.0
SPY SPDR S&P 500 ETF Trust 82.2 9 11 4.9 +0.4
SPLG SPDR Portfolio Large Cap ETF 82.1 3 17 5.0 +0.4
IVV iShares Core S&P 500 ETF 82.1 3 17 5.0 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 81.9 20 0 4.9 +0.4
MGC Vanguard Mega Cap Index Fund 81.9 7 13 4.8 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 81.7 27 -7 4.9 +0.3
VOO VANGUARD S&P 500 ETF 80.9 3 17 5.0 +0.4
IWL iShares Russell Top 200 ETF 80.8 15 5 4.6 +0.0
BKLC BNY Mellon US Large Cap Core Equity ETF 79.9 0 20 4.8 +0.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 79.5 7 13 4.8 +0.2
SPXN ProShares S&P 500 Ex-Financials ETF 79.4 27 -7 4.6 +0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 78.3 2 18 4.8 +0.3
PBUS Invesco PureBeta MSCI USA ETF 78.2 4 16 4.8 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 78.1 27 -7 4.6 0.0
SNPE Xtrackers S&P 500 ESG ETF 77.6 10 10 4.7 +0.2
EFIV SPDR S&P 500 ESG ETF 77.6 10 10 4.7 +0.2
VV Vanguard Large-Cap Index Fund 76.9 4 16 4.8 +0.2
SPTM SPDR Portfolio Total Stock Market ETF 76.6 3 17 5.1 +0.5
SCHX Schwab U.S. Large-Cap ETF 76.3 3 17 4.8 +0.2
IWB iShares Russell 1000 ETF 75.3 15 5 4.7 +0.1
SCHK Schwab 1000 Index ETF 75.0 5 15 4.8 +0.2
ESGU iShares MSCI USA ESG Optimized ETF 75.0 15 5 4.7 +0.1
IQSU IQ Candriam ESG US Equity ETF 74.5 9 11 4.7 +0.2
IYY iShares Dow Jones U.S. ETF 74.2 20 0 4.6 +0.1
CATH Global X S&P 500 Catholic Values Custom ETF 74.1 29 -9 4.7 +0.1
VTHR Vanguard Russell 3000 Index Fund 72.8 10 10 4.6 +0.1
IWV iShares Russell 3000 ETF 70.6 20 0 4.5 -0.0
SCHB Schwab U.S. Broad Market ETF 70.4 3 17 4.7 +0.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 70.0 3 17 4.7 +0.1
SPXT ProShares S&P 500 Ex-Technology ETF 69.4 27 -7 5.1 +0.6
OEF iShares S&P 100 ETF 68.6 20 0 4.5 -0.1
VONE Vanguard Russell 1000 ETF 68.4 8 12 4.8 +0.2
VTI Vanguard Total Stock Market Index Fund 68.1 3 17 4.6 +0.1
EPS WisdomTree U.S. Earnings 500 Fund 68.1 8 12 5.9 +1.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 67.9 60 -40 3.8 -0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 67.8 12 8 4.2 -0.4
VOOG Vanguard S&P 500 Growth ETF 66.7 10 10 4.1 -0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 65.8 4 16 4.2 -0.4
IVW iShares S&P 500 Growth ETF 65.8 18 2 4.0 -0.5
SFY SoFi Select 500 ETF 65.7 0 20 4.7 +0.2
IUSG iShares Core S&P US Growth ETF 65.4 4 16 4.2 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 65.4 9 11 5.2 +0.7
JHML John Hancock Multifactor Large Cap ETF 64.6 29 -9 5.0 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 63.7 32 -12 4.7 +0.1
QUS SPDR MSCI USA StrategicFactors ETF 61.7 15 5 5.4 +0.9
AVUS Avantis U.S. Equity ETF 59.5 15 5 5.1 +0.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 59.3 25 -5 5.9 +1.4
IWF iShares Russell 1000 Growth ETF 57.9 19 1 3.6 -1.0
PRF Invesco FTSE RAFI US 1000 ETF 57.9 39 -19 6.0 +1.5
VONG Vanguard Russell 1000 Growth Index Fund 57.6 8 12 3.7 -0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 57.2 28 -8 5.9 +1.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 56.7 25 -5 5.9 +1.4
DTD WisdomTree U.S.Total Dividend Fund 56.5 28 -8 6.1 +1.6
NACP Impact Shares NAACP Minority Empowerment ETF 56.3 75 -55 4.5 -0.1
DIVB iShares U.S. Dividend & Buyback ETF 56.1 25 -5 6.1 +1.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 56.1 15 5 5.8 +1.3
KOKU Xtrackers MSCI Kokusai Equity ETF 55.7 9 11 5.2 +0.6
TOK iShares MSCI Kokusai ETF 55.7 25 -5 5.1 +0.5
XLG Invesco S&P 500 Top 50 ETF 55.6 20 0 4.3 -0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 55.0 25 -5 5.6 +1.1
WOMN Impact Shares YWCA Women's Empowerment ETF 55.0 75 -55 3.8 -0.8
DSI iShares MSCI KLD 400 Social ETF 54.9 25 -5 4.7 +0.2
IWY iShares Russell Top 200 Growth ETF 54.1 20 0 3.8 -0.8
IUS Invesco Strategic US ETF 53.9 19 1 5.7 +1.1
VUG Vanguard Growth Index Fund 53.6 4 16 3.7 -0.9
KRMA Global X Conscious Companies ETF 53.5 43 -23 4.8 +0.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 53.4 30 -10 6.1 +1.5
SCHV Schwab U.S. Large-Cap Value ETF 53.0 4 16 6.2 +1.6
EXT WisdomTree U.S. Total Earnings Fund 52.5 28 -8 5.2 +0.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 52.1 10 10 4.9 +0.3
SUSL iShares ESG MSCI USA Leaders ETF 52.1 10 10 4.9 +0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 52.1 29 -9 5.2 +0.6
VONV Vanguard Russell 1000 Value Index Fund 51.8 8 12 6.3 +1.8
IWD iShares Russell 1000 Value ETF 51.5 19 1 6.2 +1.6
RECS Columbia Research Enhanced Core ETF 51.5 15 5 5.2 +0.7
URTH iShares MSCI World ETF 51.4 24 -4 5.2 +0.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 51.3 49 -29 3.9 -0.7
VOOV Vanguard S&P 500 Value ETF 51.1 10 10 6.6 +2.1
RWL Invesco S&P 500 Revenue ETF 50.2 39 -19 6.4 +1.8
VLU SPDR S&P 1500 Value Tilt ETF 50.0 12 8 6.4 +1.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 49.9 42 -22 4.8 +0.2
SPYV SPDR Portfolio S&P 500 Value ETF 49.8 4 16 6.7 +2.1
IVE iShares S&P 500 Value ETF 49.8 18 2 6.5 +2.0
MGK Vanguard Mega Cap Growth ETF 49.7 7 13 3.8 -0.7
AFLG First Trust Active Factor Large Cap ETF 49.5 55 -35 4.9 +0.3
IUSV iShares Core S&P U.S. Value ETF 49.3 4 16 6.7 +2.2
DGRO iShares Core Dividend Growth ETF 49.1 8 12 6.1 +1.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 48.8 19 1 5.5 +0.9
VEGN US Vegan Climate ETF 48.6 60 -40 4.7 +0.1
ACIO Aptus Collared Income Opportunity ETF 47.1 79 -59 4.3 -0.3
EQWL Invesco Russell Top 200 Equal Weight ETF 47.1 25 -5 5.6 +1.1
USXF iShares ESG Advanced MSCI USA ETF 46.6 10 10 4.6 +0.0
ADME Aptus Drawdown Managed Equity ETF 46.1 79 -59 3.4 -1.1
SCHG Schwab U.S. Large-Cap Growth ETF 45.9 4 16 3.4 -1.2
TMFC Motley Fool 100 Index ETF 45.8 50 -30 3.2 -1.3
FVAL Fidelity Value Factor ETF 45.7 29 -9 7.1 +2.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Goldman Sachs JUST U.S. Large Cap Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.0 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.